TSX/NYSE/PSE: MFC SEHK:
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BOSTON, March 27,
2023 /PRNewswire/ - John Hancock Retirement, a
company of Manulife Investment Management, announced today that
Wayne Park has been appointed the
head of its U.S. retirement plan and recordkeeping business with
accountability for all aspects of the business including sales,
relationship management, product, strategy, marketing, operations,
and technology. Mr. Park joins the firm as CEO, U.S. Retirement,
and will be based in Boston.
Manulife Investment Management is a global retirement leader and
operates across a diverse footprint of markets with a strong
presence in Asia, Canada, and in the U.S. With more than
$332 billion in retirement assets
under management and administration, the company supports over
260,000 retirement plans and serves over 8.7 million individual
participants who rely on its retirement plan administration and
investment expertise to help them prepare and save for their
retirement.
Mr. Park most recently served as president of American Century
Services, Inc. for American Century Investments, Inc., responsible
for direct-to-consumer and retirement plan businesses as well as an
operations group supporting all client markets and channels. Prior
to that, he had been head of individual investors for T. Rowe Price
Group, leading a business line that helped individual investors
reach investment, college and retirement goals. Previously, Mr.
Park had worked for the Vanguard Group as principal in its
institutional retirement plan business.
He replaces Sue Reibel who
retired from the position and her nearly 30-year career at Manulife
on December 31, 2022. Mr. Park joins
the global retirement leadership team and reports to Aimee DeCamillo, head of global retirement,
Manulife Investment Management.
"We are happy to have found a leader of Wayne's caliber who
brings incredible hands-on experience to the CEO role across
multiple dimensions," said Ms. DeCamillo. "As we looked to the
future of how to help provide secure retirements for our
participants, we saw a combination of both leadership and intuition
in participant needs and operational experience that will help to
ensure success in the direction, evolution, and growth of our
U.S. Retirement business."
"I look forward to leading the John Hancock Retirement business
and to continuing the legacy of its commitment to working with
financial professionals, TPAs and plan sponsors to achieve the best
retirement outcomes for participants," said Mr. Park. "I am excited
to join the global retirement leadership team and help the U.S.
organization contribute to Manulife Investment Management's growing
global retirement business."
About John Hancock
Retirement
John Hancock Retirement is the U.S. retirement business of
Manulife Investment Management. For more than 50 years, we've
helped people plan and invest for retirement; today, we're one of
the largest full-service providers in the
United States.1 We take a hands-on consultative
approach based on the idea that no two plans—and no two plan
participants—are exactly alike. We partner with plan sponsors,
advisors, and third-party administrators to ensure that every plan
is personal to the participant and delivers proven results.
As of December 31, 2022, John
Hancock serviced over 55,000 retirement plans with over 3.2 million
participants and over $187 billion in
AUMA.2
1 "PLANSPONSOR
2022 Defined Contribution Recordkeeping Survey© 2022 Asset
International, Inc.," PLANSPONSOR, 2022.
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2 As of Dec 31,
2022, John Hancock Life Insurance Company (USA) supported 50,882
plans, 1,586,569 participants, and $89,537,417,404.05 in AUMA.
John Hancock Life Insurance Company of New York supported 2,679
plans, 77,845 participants, and $ 5,128,624,337.04 in AUMA. John
Hancock Retirement Plan Services LLC supported 1,879 plans,
1,633,777 participants, and $92,836,605,881.23 in AUMA. Participant
Counts reflect all active participants with a balance. Approximate
unaudited figures for John Hancock, provided on a U.S. statutory
basis.
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About Manulife Investment
Management
Manulife Investment Management is the global brand for the
global wealth and asset management segment of Manulife Financial
Corporation. We draw on more than a century of financial
stewardship and the full resources of our parent company to serve
individuals, institutions, and retirement plan members worldwide.
Headquartered in Toronto, our
leading capabilities in public and private markets are strengthened
by an investment footprint that spans 19 geographies. We complement
these capabilities by providing access to a network of unaffiliated
asset managers from around the world. We're committed to investing
responsibly across our businesses. We develop innovative global
frameworks for sustainable investing, collaboratively engage with
companies in our securities portfolios, and maintain a high
standard of stewardship where we own and operate assets, and we
believe in supporting financial well-being through our workplace
retirement plans. Today, plan sponsors around the world rely on our
retirement plan administration and investment expertise to help
their employees plan for, save for, and live a better retirement.
Not all offerings are available in all jurisdictions. For
additional information, please visit manulifeim.com.
John Hancock Retirement Plan Services LLC provides
administrative and/or recordkeeping services to sponsors or
administrators of retirement plans through an open-architecture
platform. John Hancock Trust Company LLC provides trust and
custodial services to such plans. Group annuity contracts and
recordkeeping agreements are issued by John Hancock Life Insurance
Company (U.S.A.), Boston,
MA (not licensed in NY), and John Hancock Life Insurance
Company of New York, Valhalla, NY. Product features and
availability may differ by state. All entities do business under
certain instances using the John Hancock brand name. Each entity
makes available a platform of investment alternatives to sponsors
or administrators of retirement plans without regard to the
individualized needs of any plan. Unless otherwise specifically
stated in writing, each entity does not, and is not undertaking to,
provide impartial investment advice or give advice in a fiduciary
capacity. Securities are offered through John Hancock Distributors
LLC, member FINRA, SIPC.
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SOURCE John Hancock Retirement